Diversification keeps Lone Star shining.DIVERSIFICATION Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. KEEPS LONE STAR Lone Star (or Lonestar) may refer to:
This Austin, Texas, architectural millworker achieves a healthy growth rate by offering full service to a variety of markets. "I think what's made us successful is that we've chosen to be a diversified diversified (di·verˑ·s millwork company," said Jack Miesch, president of Lone Star Millwork, Austin, Texas. The company reached annual sales of $3,705,000 in 1990, up 151.3 percent over 1989, which also was a banner year, with sales 115.1 percent above 1988. Diversification takes two forms at Lone Star. First, the company has a wide range of capabilities; it can handle every aspect of a job from design, production and finishing through installation. "We have a finish mill and a rough mill," Miesch said. "We also run our own mouldings in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. . We don't sell any retail mouldings. All mouldings are just for our own jobs." The only thing the company does not do in-house is lay up its own veneers. Miesch said that Lone Star buys its veneers from several local vendors. Second, Lone Star has diversified its markets and does both laminate laminate, n a thin slice of porcelain or plastic fabricated in a dental lab, which is cemented to the front of the teeth to cover gaps, whiten stained teeth, or reshape chipped or broken teeth. casework case·work n. Social work devoted to the needs of individual clients or cases. case  work and premium quality architectural millwork. The
company was a residential cabinet shop when Miesch bought it in 1985,
but he changed the focus to commercial.
Currently, Miesch estimates that 60 percent of his business is in the architectural market, with the balance in laminate casework for institutions. He said the company expanded in the premium grade millwork market because there are fewer companies in the area that do that type of work. "We say that we pay our bills with the laminate casework and make our money on architectural millwork," Miesch said. To accommodate fluctuations between casework and millwork jobs in the plant, all employees are crosstrained to do both types of work, Miesch said. It took a lot of time to do this training, he said, but it helps maintain a smooth production flow. "Project engineering and coordination are of major importance," said Miesch, "because there are many more variables to completing a job on time than simply running it through the shop." PHOTO : This restaurant fireplace fireplace Opening made in the base of a chimney to hold an open fire. The opening is framed, usually ornamentally, by a mantel (or mantelpiece). A medieval development that replaced the open central hearth for heating and cooking, the fireplace was sometimes large enough to is an example of the high-end architectural millwork done by Lone Star. |
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